John Moore Security Ltd
Business Loans Case Study
The Company
Hull-based John Moore Security Limited is on a sure footing for future growth ahead of its 25th anniversary next year after a £150,000 funding boost from Finance Yorkshire.
After working at various national security firms, John Moore set up his own business in 1987, which specialises in fire alarms, CCTV, intruder alarms and access control systems.
John Moore Security (JMS) has grown over the years thanks to a series of trade acquisitions, expanding into areas including Doncaster, Brigg and Cleethorpes.
The company recently received BAFE accreditation for its commitment to service excellence in fire protection.
The Challenge
JMS have centralised the administration and service control at Group Head Office operations in Hull.
“Recent acquisitions have also meant we require more working capital while these businesses are integrated into the JMS Group,” said John. “As we grow we need working capital behind us to support us which Finance Yorkshire is helping to provide.”
The Solution
JMS were introduced to Finance Yorkshire by Martin Overfield, a partner at Smailes Goldie Chartered Accountants of Hull and Barton.
He said: “Support from Finance Yorkshire is even more relevant than ever in times like these where access to lending can be difficult.”
The funding will also be used for a number of internal improvements at JMS such as management and customer service training programmes, as well as improving the firm’s fire alarms offering even further.
The Investment Rationale
Martin Overfield said: “I worked with Finance Yorkshire’s Ian Atkinson previously when he was with Partnership Investment Finance and as a result knew that Finance Yorkshire would be able to help us put together the right funding package for JMS.
Ian Atkinson said: “JMS is a big player now across Yorkshire and the Humber, but was finding it difficult to raise the additional working capital it required to continue that momentum.
“This is a perfect example of how Finance Yorkshire can step in to assist companies by providing a significant business loan that will plug the gap in financing that many of our regional businesses face.”
Future Expectations
John said: “We want to expand the Hull headquarters to help protect current jobs and hopefully create more in the future.
“We have experienced a very organic expansion from our traditional heartlands and the company is looking to grow gradually and carefully to expand its operating area even further so it is reassuring to have the funding behind us to help support those future growth plans.”
Note: this case study is from Finance Yorkshire’s previous fund. Read more about Finance Yorkshire